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2010
Cost-Minimizing Choice Behavior in Transportation PlanningA Theoretical Framework for Logit ModelsAuthors:
- Sven B. Erlander
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ISBN: 978-3-642-11910-1 (Print) 978-3-642-11911-8 (Online)
A Theoretical Framework for Logit Models
Series: Advances in Spatial Science
Erlander, Sven B.
2010, XII, 160 p. 6 illus.
ISBN 978-3-642-11911-8
Immediately available per PDF-download (no DRM, watermarked)
About this book
This book stems from a desire to understand the underlying assumptions and structure of the choice probability models most often used in transportation planning. The book investigates how far a new way of defining cost minimizing behavior can take us. All commonly used choice probability distributions of the logit type – log linear probability functions – follow from cost minimizing behavior defined in the new way; some new nested models also appear.
The new approach provides a deeper understanding of what is at work in the models. The new way of defining cost minimizing behavior is as follows: cost minimizing behavior pertains if the likelihood (probability) of any independent sample of observations is a decreasing function of the average cost of the sample. Extreme value distributed random variables are not used in the derivation of models. A measure of freedom of choice related to the Shannon measure of how much "choice" is involved is used to obtain a welfare measure which is equal to composite cost.
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